The Janesville GM plant. (Photo: WCLO)
A St. Louis industrial property redeveloper is working to buy out Janesville’s shuttered General Motors assembly plant.
The City of Janesville announced Friday that Commercial Development Corp. has a contract to buy the defunct plant property from GM, and it could close on the sale by the end of the year pending a 75-day due diligence period during which the company would learn more about the state of the plant and its redevelopment prospects.
Commercial Development has redeveloped about 175 sites in the United States and it’s had a history of buying post-industrial properties like the GM site. Janesville officials say the company plans to invest significant resources to re-position the property for vibrant future use.
WCLO